Page 168 - MEDIASET ESPAÑA / 2012. Financial Statements, Management and Corporate Governance Report

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MEDIASET ESPAÑA COMUNICACIÓN, S.A. AND SUBSIDIARIES
2011 Balance
Maturities
3 months 6 months 12 months 30 months
Payable for purchases or rendering of goods or
services 191,341 190,978 341 22 -
Payables for purchases of audiovisual rights 93,777 93,084 612 81 -
Bank borrowings 61,774 61,774 - - -
Payables for acquisition of assets 4,583 4,556 27 - -
Total 351,475 350,392 980 103 -
The maturities of the borrowings from related parties are shown in detail in Note 25.1.
In accordance with prevailing mercantile legislation, in 2012 the Group must disclose the outstanding balances owed
to suppliers at the reporting date that are older than the deadline provided for in Law 15/2010 of July 7, establishing
measures against late payment in commercial transactions. According to this law, payment in general must be made
within 60 days.There is a transitional period of 85 days from the entry into force of this law until December 31, 2011,
of 75 days in 2012 and 60 from January 1, 2013. At December 31, 2012 the outstanding amounts payable to suppliers
over 75 days was 25,551 thousand euros.
Total payments made within
the maximum legal period
Total payments
for the year
Deferrals exceeding the maximum legal
payment period at year end (*)
Average debt payment
period over 75 days
541,439 569,132 25,551 4
At December 31, 2011, the outstanding amounts payable to suppliers over 85 days was 27,692 thousand euros.
Total payments made within
the maximum legal period
Total payments
for the year
Deferrals exceeding the maximum legal
payment period at year end (*)
Average debt payment
period over 85 days
550,838 604,869 27,692 8
(*) Deferrals exceeding the legal payment period at the end of the year relate mainly to administrative incidents in the
processing of invoices, which are currently being resolved.
22.3. Capital management policy
The Group’s capital management policy is focused on securing a return on investment for shareholders that maximizes
the profitability of their contribution to the company with the least amount of risk possible, contributing with an
attractive risk investment in line with the current economic and business environment. The capital structure of the
company places it in an excellent position as a result of its significant capacity to generate positive cash flows, even in
the current markets condition.